SDX Energy Inc. ("SDX" or the "Company") Announces its Quarter to March, 31, 2017 Financial and Operating Results

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY SDX TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

LONDON, May 19, 2017 /CNW/ - SDX Energy Inc. (TSXV, AIM: SDX), the North Africa focused oil and gas company, is pleased to announce its financial and operating results for the three months ended March 31, 2017.  All dollar values are expressed in United States dollars net to the Company unless otherwise stated.

Highlights - three months ended March 31, 2017

Corporate and Financial

  • SDX's key financial metrics for the 3 months ended March 31, 2017 and 2016 are as follows;


Three months ended
March 31

US$ million except per unit amounts

2017

2016

Net Revenues

8.1

2.1

Netback(1) 

6.1

1.1

Net realized average oil price/service fees - US$/barrel

44.38

24.46

Net realized average gas price - US$/mcf(2)

5.5

-

Netback – US$/boe

22.62

9.73

Gain on acquisition

29.5

-

Total comprehensive income/ (loss)

26.9

(0.9)

Net cash generated from operating activities

3.1

1.8

Cash and cash equivalents

21.1

8.7

Note:

(1)

Refer to "Non-IFRS Measures" section of this release below for details of Netback.

(2)

Net realised average gas price in Morocco was US$9.29/mcf and Egypt was US$1.00/mcf

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE SDX Energy Inc.

For further information: SDX Energy Inc., Paul Welch, President and Chief Executive Officer, Tel: +44 203 219 5640; Mark Reid, Chief Financial Officer, Tel: +44 203 219 5640; Cantor Fitzgerald Europe (Nominated Adviser & Joint Broker), Sarah Wharry/Craig Francis, Tel: +44 207 894 7000; GMP FirstEnergy (Joint Broker), Jonathan Wright/David van Erp, Tel: +44 207 448 0200; Celicourt (PR), Mark Antelme/ Joanna Boon, Tel: +44 207 520 9260


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